BGR Energy Systems Limited Receives Rectified Demand Order for Assessment Year 2018-19
BGR Energy Systems Limited has received a Rectification Order concerning its assessment for the financial year 2018-19. The order, dated May 29, 2026, was issued by the Assistant Commissioner (ST) (FAC), Ponneri Assessment Circle, under Section 161 of the TNGST Act, 2017.The rectification order rectifies an earlier remanded order dated February 3, 2026. This adjustment results in a revised total demand of Rs. 94,29,93,514. This amount comprises tax, interest, and penalty levied under CGST and SGST.
The alleged contraventions relate to discrepancies observed during a GST audit for FY 2018-19. Specifically, the issues pertain to tax liability calculations concerning advance received and trade payables. The Authority revised the demand after considering the rectification application submitted by the Company, while confirming the balance demand related to the advance received and trade payables under CGST and SGST.
BGR Energy Systems Limited reported that the order was received on May 29, 2026. According to the Company, there is no material financial impact at this stage, and the entity plans to file an appeal against the received order.
The key details of the revised assessment demand are summarized below:
| Authority Issuing Order | Date of Order | Assessment Year | Revised Total Demand | Components of Demand |
|---|---|---|---|---|
| Assistant Commissioner (ST) (FAC), Ponneri Assessment Circle | May 29, 2026 | 2018-19 | Rs. 94,29,93,514 | Tax, interest, and penalty under CGST and SGST |
BGR Energy Systems Limited confirmed that the Company remains committed to addressing the matter and will be appealing the said order.
BGRENERGY Stock Price Movement
On Friday, shares of BGR Energy Systems Limited gained ground, settling at ₹346.35 after rallying 5.00%. The stock saw substantial activity during the session, with 242,349 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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